The easiest way to think of the function of SOV is with an analogy to stocks. A company's shares provide for governance rights and also a claim on the company revenue, usually through dividends. SOV provides is similar in that it provides a way to participate in Sovryn governance and the system revenues are channeled to those who participate in that governance.

I think this is an important step in building a permissionless economy around Bitcoin. Sovryn, instead of being managed by a company, which is created by the legal system of a specific jurisdiction is like a decentralised company that is created by the smart contracts themselves. This makes Sovryn governance permissionless, global and uncensorable.